RTTNews - Tuesday, Luxembourg's National Institute of Statistics said in a report that the gross domestic product or GDP dropped 1.5% sequentially in the first quarter, compared to the 3.6% fall in the fourth quarter, revised up from 4.5% drop reported initially.

Year-on-year, the GDP declined 5.4% in the first quarter, compared with a 5% drop in the previous quarter. The fourth quarter figure was revised from 5.4% fall estimated in the preceding report.

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